Confusion on Savings

ljane74

Please can you help.

I've got £1500 which i want to put away to save. But also i want to try and start to put an extra bit away each month as well. Only small sum of between £20-£50 per month depending on my finances. I've looked through site upon site and am just getting myself more confused. Has anyone got any ideas. Ta very much.

Aegis

If you're looking to put it away for a reasonable amount of time rather than for, say, a few months, then the best bet might be a good cash ISA that allows regular contributions.

isofa

If you are a tax payer, then definitely go for a high rate ISA, that allows you to add to the balance (max is £3K per year) as and when you like.

If you don't pay tax, a good high interest "easy access" account or a regular saver would be just as good, as you'll receive the gross interest.

Liz_the_Whizz

ljane 74

Some of the top interest paying cash ISAs expect a minimum lump sum in, but I noticed today that Ipswich Building Society do a regular saver ISA which at 5.85% is not bad.

I don't have an ISA with them, but I do have an ordinary taxable regular saver which I set up by post, no need to live in the area. They are quite nice to deal with.

You might want to have a look at the website to see if this is along the lines of what you were looking for. Others may be able to suggest better alternatives.